Snowflake Expands Startup Accelerator with $200M Investment

Snowflake is expanding its Startup Accelerator with a $200 million investment to support early-stage startups building AI-based solutions on its platform. The accelerator, which was previously known as the Powered by Snowflake Funding Program, offers startups technical support, co-marketing opportunities, and AWS credits for cloud services.

The new funding will be sourced from Snowflake's venture capital partners, including Bain Capital Ventures, Blackstone Innovations Investments, and Bessemer Venture Partners, among others. These partners may invest in startups within the accelerator, although there is no guarantee of funding for any specific company.

In addition to the financial boost, Snowflake is also opening a new AI hub in Menlo Park, California, designed to foster collaboration among developers, startups, and business leaders in the AI sector. This initiative is part of Snowflake's broader strategy to enhance its AI capabilities and support innovation in the industry.